Capital Asset Advisory Services LLC Lowers Holdings in AT&T Inc. (NYSE:T)

Capital Asset Advisory Services LLC lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 60.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,410 shares of the technology company's stock after selling 78,612 shares during the period. Capital Asset Advisory Services LLC's holdings in AT&T were worth $1,447,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in T. Capital A Wealth Management LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the fourth quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in AT&T in the fourth quarter worth about $28,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on T. Tigress Financial increased their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Stock Performance

AT&T stock traded up $0.40 during mid-day trading on Thursday, reaching $27.76. 29,163,177 shares of the stock traded hands, compared to its average volume of 36,671,326. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The business's 50-day moving average is $27.34 and its 200-day moving average is $25.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market capitalization of $199.72 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the company earned $0.55 EPS. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.00%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.